Versapay Acquires Leading Cash Application Fintech Company DadeSystems
Summary
The acquisition broadens Versapays suite of accounts receivable (AR) automation solutions and expands its AI and machine learning capabilities. "This acquisition will give Versapay an unmatched, comprehensive suite of AR automation solutions, perfectly positioning the company to capture the growing market opportunities," said Matt Vettel, Managing Director, Great Hill Partners. The Versapay Collaborative AR Network is the first solution that empowers the genius of teams by bridging the gap between suppliers and buyers through a shared, digital experience. With an easy implementation, straight-through cash posting rates of 90%+, and award-winning mobile capabilities, DadePay is used by hundreds of businesses across industries to receive, match, and apply any payment from any channel. Ten Coves seeks to partner with talented, passionate entrepreneurs where its capital, network and decades of experience can help accelerate growth and value creation.
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